Morgan Stanley plans autocallable trigger PLUS tied to gold miners ETF

By Angela McDaniels

Tacoma, Wash., Nov. 20 – Morgan Stanley Finance LLC plans to price 0% autocallable trigger Performance Leveraged Upside Securities due May 24, 2019 linked to the VanEck Vectors Gold Miners exchange traded-fund, according to an FWP filing with the Securities and Exchange Commission.

The notes will be guaranteed by Morgan Stanley.

The notes will be automatically called at par of $10 plus 8% if the fund closes at or above the initial share price on May 21, 2018.

If the notes are not called and the final share price is greater than the initial share price, the payout at maturity will be par plus 150% of the fund’s return, subject to a maximum return of 20%. If the final share price is less than or equal to the initial share price but greater than or equal to the trigger price, 80% of the initial share price, the payout will be par. If the final share price is less than the trigger price, investors will be fully exposed to the fund’s decline from its initial price.

Morgan Stanley & Co. LLC is the agent.

The notes will price Nov. 21.

The Cusip number is 61768K430.

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